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For merchants as well as customers in the SEA region, iPay88 has been a common Payment Gateway Provider for a while. Compared to PayPal, iPay88 price is a little bit higher to set up but might prove to be more a cost-saving and reliable payment gateway solution for merchants later on due to its low transaction fee (3.5%).
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What is iPay88?
IPay88 is an award-winning online payment ecosystem which, after years of refinement, is filled with state-of-the-art implementations of security measures in order to best help customers, as well as store owners, navigate effortlessly in our increasingly digitalized world. It is, To the majority of store owners who have tried out iPay88, it is rated as a payment gateway system that does its job well—so well that it has now become the default payment gateway for stores that want a cheap and cost-effective payment gateway solution.
iPay88 headquarter is located in Kuala Lumpur, Malaysia. They also have offices in Indonesia, Philippines, Thailand, and Singapore.
Why choose iPay88 payment gateway?
Utilizing a single-contact point philosophy for most of its developments, iPay88 is the solution for brands who want the quick and effortless checkout experience that most of the customers of today’s world are after. And of course, that’s not its only selling point:
- Fast underwriting and execution
- Distortion neutralizing activity framework
- Intensive portion decisions
- Under the supervision of BNM
- Adequacy and limit of our system are guaranteed
Key Features you can apply with iPay88:
- Continuous united online report
- Email/SMS Notification
- Rehashing Payment
- Electronic distortion screening
- Segment portion course of action
- Payout Service
iPay88 Price
| iPay88 SME Plan Pricing | |
|---|---|
| One Time Registration Fee | RM 488 |
| Annual Fee | RM 500, waived from 2nd year onwards |
| Merchant Transaction Rate | 2.7% for credit card, 2.5% for debit card2.6% or minimum RM0.60 (whichever is higher) for local Online Banking and E-Wallet payment services |
| iPay88 Individual/SOHO Plan Pricing | |
|---|---|
| One Time Registration Fee | RM 488 |
| Annual Fee | Waived |
| Merchant Transaction Rate | 3% or minimum RM0.60 (whichever is higher) for local Online Banking and E-Wallet payment services |
Ipay88 transaction fee
iPay88, a popular payment gateway in Malaysia, has specific transaction fees that vary based on the payment method used. Here’s a detailed breakdown of their transaction fees:
| Payment Method | Transaction Fee |
|---|---|
| Credit and Debit Cards | 2.3% to 3.2% per transaction Minimum fee: RM 0.60 |
| E-Wallets | Approximately 1.5% per transaction |
| Online Banking (FPX) | 2.8% to 3.2% per transaction Minimum fee: RM 0.60 |
Note: These fees are inclusive of any bank and card company charges, meaning that merchants do not incur additional costs beyond these stated rates
FAQs about iPay88 fees
What is the minimum payment for iPay88?
The minimum payment amount for iPay88 is RM 100
What is gateway pricing?
Gateway pricing refers to the fees charged by payment gateways for processing transactions, typically including setup fees, annual fees, and transaction rates based on the payment method used.
What currency is used in iPay88?
Currently, iPay88 supports the following currencies: AUD, CAD, EUR, HKD, INR, IDR, MYR, PHP, GBP, SGD, THB, USD, TWD.
What countries is iPay88 available in?
iPay88 operates in several countries, including Malaysia, Indonesia, Philippine, Thailand, Bangladesh, Cambodia and Singapore
Which is the cheapest payment gateway for eCommerce?
The cheapest payment gateway can vary based on specific needs and transaction volumes, but options like CommercePay or Fiuu are often cited as cost-effective alternatives to iPay88.
Who owns iPay88?
iPay88 is owned by The Mobile88 Group of Companies. In 2015, NTT DATA, a Japanese system integration company, acquired iPay88.
Looking at the pricings of these two iPay88 plans, we can see that the SOHO plan is a nice additional choice for smaller stores who want the best bang for their bucks. The merchant transaction rate of SME (Small/Medium Enterprise) plan can come in handy for bigger stores who deal with a lot of transactions and need to cut every corner when it comes to cost, but for stores that generate monthly turnovers of less than RM 4,000, it’s recommended that SOHO plan is the better option.
